Cheapest commission $4.95 in US?

J

jk90029

Dear-

I am a newbie in NYSE. So interested ONLY in equity, NOT in the future or derivatives.

I visited a few brokerage to find out

https://www.tradeking.com/rates

showing that $4.95 might be the best. Is it true?

***********************************************************

Also, API is another important things to consider.

Etrade and TradeKing provide API, for us to connect to the server easily and conveniently.

***********************************************************

Any comments is appreciated to the newbie like me.

-Jay
 
IB probably (but not necessarily) does have the lowest commissions. This will depend on more details than just "equities" (trade sizes, etc.). You should look into the cost of trading with IB (their cost plus pricing structure) vs whoever else, using precise example trades. Besides TradeKing (and IB), I would consider MB Trading.

As far as APIs go, it depends on how you want to interact with it. For example, I personally prefer the IB API because of its C++ interface.

Note that if you think that you may want to trade in foreign markets or forex, etc. in the future, then IB is the obvious choice.
 
Commission of IB depends on the number share

Some brokerage charges flat rate, so that it does NOT matter whether you buy $100 OR as much as $1000K / Both will charge $4.95

Depending on the current cash power, choice of (cost) optimal will be DIFFERENT.
 
jk90029 said:
Furthermore, what is the good forum site to discuss APIs in each brokerge company?

TradeKing says that they have 250000 API users as shown in https://developers.tradeking.com/

Is it the biggest API-user company?

Any other comments will be appreciated.
More...

i kind of doubt that. IB has 200K clients accounts(see their annual report) how many of them using API? i have no idea. let's just say -half. are you saying that not only this TradeKing has bigger clients base than IB, but also twice bigger amount of API users?
i'd call it a BS,unless it's in their annual report or some official paper.

---TradeKing Forex, LLC acts as an introducing broker to GAIN Capital Group, LLC ("GAIN Capital").----

never heard of any of those. not traderking,not gain. if 4.95 is commish for unlimited shares and you trade large size-then yes,it might be better. secure and reliable as IB-doubt it
 
I started with Tradeking about four years ago before moving to Tradestation for the backtesting software. Tradeking has been reliable for my stock and option swing trades and I still have a mildly active account there. They do charge .01 per share in addition to the 4.95 base rate for any stock below $2, however.
 
If you're a newbie, the lowest commission cost isn't going to determine your success, but if you insist:

OptionsHouse and TradeMonster are at $4.75 and $4.95, respectively, for stock trades. Both clear through APEX Capital; I believe OptionsHouse may be partially or wholly owned by the people that own APEX (Peak 6, if I remember correctly).

I have infrequently traded retirement accounts at both. If I were sticking to stocks, I'd go with OptionsHouse. It's nothing fancy, but everything seems a lot faster than at TradeMonster.
 
You must log in or register to reply here.
Back
Top